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Official Appointed By Obama Did Not Work For Free, Received Six-Figure Compensation

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Unread 10.06.10, 02:23 AM
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Official Appointed By Obama Did Not Work For Free, Received Six-Figure Compensation

10.05.10 07:01 PM

Debunking prior reports that the executive compensation czar hand-picked by President Barack Obama would work pro bono, a watchdog group recently revealed that the official received a six-figure salary.

Kenneth Feinberg, who was appointed to be the Special Master for TARP Executive Compensation by Obama in 2009, was in charge of establishing compensation levels for top leaders at companies that were bailed out by the Federal government. Several media sources, including Forbes magazine, reported that Feinberg would not be paid for his services.

Judicial Watch, a public interest group that investigates and prosecutes government corruption, has discovered U.S. Treasury Department documents that reveal Feinberg's annual salary of $120,830.

"This is yet another reason why more of these Obama czars should go through the Senate confirmation process, rather than being simply installed into power," Judicial Watch President Tom Fitton said.

Feinberg, who is currently the administrator of the BP oil disaster fund, recently drew criticism from the administration that appointed him. According to the St. Petersburg Times, Associate U.S. Attorney General Thomas Perrelli wrote a letter to Feinberg, urging him to devote "whatever additional resources are necessary" to speed up the allocation of $20 billion to compensate business owners and other citizens affected by the oil spill.

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